Ayala Pharmaceuticals Inc (ADXS)

[scottmiyadi]

Z --- there lies the rub; What you are advocating is DOC's strategy. The fallacy of this thinking is we (may) indeed fetch more at a later date but unless we are able to license for real, meaningful upfront cash in the near term --- something which we have never been able to achieve ---- we will undoubtedly suffer through further dilution to get to your point into the future where we may be sold at $4B. At what point is our leverage as current shareholders best served? At this point where your estimate of $1.75B might yield a PPS in the $30+ range or in the uncertain future wherein a $4B+ buyout is achieved but if the outstanding share count is 100m + due to further dilution(s), where is the benefit in holding out for the current retail shareholder unless one constantly increases their investment risk to remain whole vis a vis the needed ongoing dilution(s)?